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Company No: 05583550 (England and Wales)

GRANT & ASSOCIATES LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

GRANT & ASSOCIATES LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

GRANT & ASSOCIATES LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2023
GRANT & ASSOCIATES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2023
DIRECTORS Alicia Elaine Grant
Robert William Grant
SECRETARY Alicia Elaine Grant
REGISTERED OFFICE Stonecroft Station Road
North Cowton
Northallerton
DL7 0HH
England
United Kingdom
COMPANY NUMBER 05583550 (England and Wales)
ACCOUNTANT Morrell Middleton Auditors Ltd
Chartered Certified Accountants
Wellington House
Aviator Court
York
YO30 4UZ
GRANT & ASSOCIATES LIMITED

BALANCE SHEET

As at 31 October 2023
GRANT & ASSOCIATES LIMITED

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,138 301
1,138 301
Current assets
Debtors 4 31,726 26,839
Cash at bank and in hand 5 8,151 33,890
39,877 60,729
Creditors: amounts falling due within one year 6 ( 22,998) ( 33,108)
Net current assets 16,879 27,621
Total assets less current liabilities 18,017 27,922
Creditors: amounts falling due after more than one year 7 ( 18,080) ( 27,540)
Net (liabilities)/assets ( 63) 382
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account ( 163 ) 282
Total shareholders' (deficit)/funds ( 63) 382

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Grant & Associates Limited (registered number: 05583550) were approved and authorised for issue by the Board of Directors on 14 March 2024. They were signed on its behalf by:

Robert William Grant
Director
GRANT & ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
GRANT & ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Grant & Associates Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Stonecroft Station Road, North Cowton, Northallerton, DL7 0HH, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 4 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 3

3. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 November 2022 508 8,340 8,848
Additions 808 267 1,075
Disposals 0 ( 2,277) ( 2,277)
At 31 October 2023 1,316 6,330 7,646
Accumulated depreciation
At 01 November 2022 508 8,039 8,547
Charge for the financial year 55 183 238
Disposals 0 ( 2,277) ( 2,277)
At 31 October 2023 563 5,945 6,508
Net book value
At 31 October 2023 753 385 1,138
At 31 October 2022 0 301 301

4. Debtors

2023 2022
£ £
Trade debtors 2,520 26,700
Amounts owed by directors 28,782 49
Prepayments 424 90
31,726 26,839

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 8,151 33,890

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 9,420 9,960
Trade creditors 0 1,750
Taxation and social security 13,578 21,398
22,998 33,108

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 18,080 27,540

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100